AbstractSharks were not regarded as an important species among edible species and hence they were not targeted for commercial scale fishing in the past. Quite recently sharks gained importance as a commercial species since their fins and cartilages became commodities high in demand in international markets.

Large scale commercial exploitation of this species during recent years led to drastic decline in shark populations globally. Data available on shark fishing and finning are only scanty to arrive at any substantial assessment of this issue. However, available information on shark species recorded from Northwestern Atlantic indicated a decline of more than 50% in shark stock during the past 8 to 15 years period. Industrialized fishing contributed to about 80% reduction in community biomass within 15 years of the start of exploitation. Shark finning is against the guiding principles and aims of the UN–FAO (Food and Agriculture Organization) International Action Plan for the conservation of sharks....

Fiji Islands

Many of the Taiwanese, Hong Kong, Chinese and Korean vessels intrude into Fijian waters for shark fishing. These vessels bring in quite a lot of shark fins to Fiji island from where they are re-exported to Chinese and Hong Kong markets. The Fiji market is bustling with hectic business deals since a profit margin of about 80% is reported in some of these transactions."